BlackRock Inc. Makes New $6.30 Million Investment in Consumer Portfolio Services, Inc. $CPSS

Key Points

• BlackRock acquired 656,330 shares of Consumer Portfolio Services in the second quarter, valued at approximately $6.30 million and representing about 3.02% of the company. Institutional investors collectively own 47.57% of CPSS.
• Insiders have been selling shares, including CEO Charles E. Bradley Jr.’s sale of 125,000 shares for roughly $1.18 million. Insiders sold 144,500 shares worth $1.37 million over the past 90 days, though they still own 63.70% of the stock.
• Analyst sentiment remains negative: Weiss Ratings downgraded CPSS to “sell,” and the company has a consensus “Sell” rating. Shares recently traded at $9.40, while the company reported quarterly earnings of $0.27 per share on $57.14 million in revenue.

BlackRock Inc. purchased a new stake in shares of Consumer Portfolio Services, Inc. (NASDAQ:CPSS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 656,330 shares of the credit services provider's stock, valued at approximately $6,297,000. BlackRock Inc. owned about 3.02% of Consumer Portfolio Services as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CPSS. Goldman Sachs Group Inc. boosted its holdings in shares of Consumer Portfolio Services by 17.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 31,752 shares of the credit services provider's stock worth $275,000 after buying an additional 4,789 shares during the period. Empowered Funds LLC raised its holdings in Consumer Portfolio Services by 3.8% in the 1st quarter. Empowered Funds LLC now owns 150,808 shares of the credit services provider's stock worth $1,308,000 after acquiring an additional 5,588 shares during the period. Geode Capital Management LLC raised its holdings in Consumer Portfolio Services by 8.5% in the 2nd quarter. Geode Capital Management LLC now owns 212,555 shares of the credit services provider's stock worth $2,090,000 after acquiring an additional 16,563 shares during the period. JPMorgan Chase & Co. lifted its position in Consumer Portfolio Services by 17.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,739 shares of the credit services provider's stock worth $119,000 after acquiring an additional 2,333 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in Consumer Portfolio Services during the 3rd quarter worth $163,000. Institutional investors own 47.57% of the company's stock.

Insider Transactions at Consumer Portfolio Services

In related news, CEO Charles E. Bradley, Jr. sold 125,000 shares of Consumer Portfolio Services stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $9.46, for a total transaction of $1,182,500.00. Following the sale, the chief executive officer directly owned 4,099,545 shares of the company's stock, valued at $38,781,695.70. This trade represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Catrina Marie Ralston sold 3,617 shares of the business's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $9.50, for a total value of $34,361.50. Following the transaction, the vice president owned 68,262 shares in the company, valued at $648,489. This represents a 5.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 144,500 shares of company stock worth $1,367,235. 63.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on CPSS. Weiss Ratings cut shares of Consumer Portfolio Services from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, August 28th. Wall Street Zen raised Consumer Portfolio Services to a "hold" rating in a research report on Saturday, July 18th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Sell".

Consumer Portfolio Services Trading Up 6.7%

Shares of CPSS stock opened at $9.40 on Friday. The firm has a market capitalization of $202.62 million, a P/E ratio of 10.22 and a beta of 1.11. Consumer Portfolio Services, Inc. has a 1 year low of $7.30 and a 1 year high of $10.49. The firm's fifty day simple moving average is $9.34 and its 200 day simple moving average is $8.99. The company has a current ratio of 5.67, a quick ratio of 5.67 and a debt-to-equity ratio of 10.43.

Consumer Portfolio Services (NASDAQ:CPSS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The credit services provider reported $0.27 earnings per share for the quarter. The firm had revenue of $57.14 million during the quarter. Consumer Portfolio Services had a net margin of 4.78% and a return on equity of 6.91%.

Consumer Portfolio Services Profile

Consumer Portfolio Services, Inc is a specialty finance company focused on originating and servicing retail installment contracts for the automotive industry. The company primarily serves subprime and near-prime borrowers by partnering with a network of franchised and independent auto dealers across the United States. By providing flexible financing solutions, CPS seeks to expand vehicle ownership opportunities for customers who may not qualify for traditional prime auto loans.

CPS operates through two principal segments: loan origination and servicing.

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